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Bank of Azerbaijan achieves 38% growth in capital

16 January 2009 13:52 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of January 1, Bank of Azerbaijanâ€™s assets stood at AZN 108.756 million, up 18.2% on a year earlier.
The bank said loan portfolio rose 18.8% to AZN 88.431 million, deposit portfolio jumped 19.2% to AZN 42.490 million, total capital went up 37.7% to AZN 19.914 million and authorized capital jumped 46.6% to AZN 14.635 million.
Consumer loans declined 4% to AZN 24.075 million.
Revenue for 2008 increased by 22.4% over the past year to AZN 17.010 million and expenditures rose by 71% to AZN 16.485 million.
Profit declined 87.7% to AZN 2521 000 and net profit fell 89% to AZN 367 000.
The number of employees rose 43.2% to 378 and salary increased 43% to AZN 874 on average.
The bank established 2 branches, 10 bureaux de change, 3 ATMs and 37 POS terminals over the past one year.
Owned by NEM Holding and two individuals, Bank of Azerbaijan has been in operatin since 1993. The bank operates 18 branches, 32 bureaux de change, 19 ATMs and 128 POS-terminals.